Ken's Continuing Successes with EO's system | Page 131 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

The System Behind the System, by Merlin Jeffries 16 replies

FX Trading Journal & Continuing Education (warrensapp) 2 replies

Continuing Direction following new Daily Low or High at Close 5 replies

Just basic question on trading successes 10 replies

Would you trade this system? New system #2. 10 replies

Attachments: Ken's Continuing Successes with EO's system
Exit Attachments

Ken's Continuing Successes with EO's system

  • #2,601
  • Nov 11, 2010 8:34am Nov 11, 2010 8:34am
anyone see the e/j short ??? 61.8% zone level and 35/50 and 62 ma's ( noodles) right above. Also 00 can we say confluence. I took it a s a scalp. Pretty much idea of the day with holiday.
Attached Image (click to enlarge)
Click to Enlarge Name: Thursday.jpg Size: 165 KB
Good Trading To All ; Ken Lee
  • #2,602
  • Nov 11, 2010 8:36am Nov 11, 2010 8:36am
Quoting Fxfighter
short A/U after close candel.
closed @ RN .0006.Bloody hell this system is really suit me excellent for jumping trading
  • #2,603
  • Nov 11, 2010 8:37am Nov 11, 2010 8:37am
Quoting Kenneth Lee
Was doing it as you typed ..


Sorry man, feel like a pushy bugger now!

Really glad you cleared that up because I regretted not taking it and yeah, it would have just been to the 35/50. That's another entry I can chalk up for the future now.

Regarding the touch entry you've shown off the ppa level, I can honestly say i've never taken one yet. I love the MA's because I know they all look the same on everyone's chart. The lines though, well, i've drawn them myself so I have no confidence that anyone else is seeing what i'm seeing.

I'm going to give one a try but maybe with 1/5 of my usual position, just to start the process and build from there.

Thanks for taking the time to do that for me, I really do appreciate the help. I know you're busy balancing the job and your trading these days so the fact you're still committed to your thread and helping us see a little more each day is to your credit bud
  • #2,604
  • Nov 11, 2010 8:38am Nov 11, 2010 8:38am
Quoting Kenneth Lee
anyone see the e/j short ??? 61.8% zone level and 35/50 and 62 ma's ( noodles) right above. Also 00 can we say confluence. I took it a s a scalp. Pretty much idea of the day with holiday.
Yep that was no brain short lovely kiss but I closed @82 b/c that prior higs make my chicken legs bloody shaking.
  • #2,605
  • Nov 11, 2010 8:40am Nov 11, 2010 8:40am
Quoting Fxfighter
closed @ RN .0006.Bloody hell this system is really suit me excellent for jumping trading
Its the power of the noodles bro!

One question though, what is used to describe the difference between the ema noodle and sma noodle?
Attached Image
  • #2,606
  • Nov 11, 2010 8:42am Nov 11, 2010 8:42am
Quoting ReaperKK
Good morning guys, I see that there is a holiday today here in US, as well as a few other things. Even still I just took a trade on EJ, there was a resistance area with quite a few tests so I took the engulfing candle.
Man I saw you in the same bus and Storeball was driver and I checket your ticket .Next time give to us smile and vave to us.
  • #2,607
  • Nov 11, 2010 8:43am Nov 11, 2010 8:43am
Quoting Kenneth Lee
anyone see the e/j short ??? 61.8% zone level and 35/50 and 62 ma's ( noodles) right above. Also 00 can we say confluence. I took it a s a scalp. Pretty much idea of the day with holiday.
I took that one as well.. I missed the best entry by a few pips because I pulled the trigger at 112.97, which was the 61.8% fib level for me. I'm holding for 112.6X area; it keeps trying to break below that massive hammer from yesterday's London session which is also the daily 50.. lot of resistance there
  • #2,608
  • Nov 11, 2010 8:45am Nov 11, 2010 8:45am
Quoting Trotty


Sorry man, feel like a pushy bugger now!

Really glad you cleared that up because I regretted not taking it and yeah, it would have just been to the 35/50. That's another entry I can chalk up for the future now.

Regarding the touch entry you've shown off the ppa level, I can honestly say i've never taken one yet. I love the MA's because I know they all look the same on everyone's chart. The lines though, well, i've drawn them myself so I have no confidence that anyone else is seeing what i'm seeing.

I'm going to give one a try but maybe...

If you can put hi and lo zones on your charts that will help with your levels. also your major fib levles . so look for confluence when drawing if you need . It all becomes easier with time. But keep in mind they are a area. Touch trades are not required . Not sure but there are some great long term traders that even zoom down to a 5 min or 1 min for entries. They look for the same patterns but also use them for their stops . So like on the e/j touch just now the 5 minha d a shooting star and you could get 10 or 15 , or amybe hold it stop above 00 if it breaks the 00 it will probably grab stops around 18 or 20 .. Soo why play to pay . Maybe re-enter if that happens. One long paragraph luvlly.. hehe
Good Trading To All ; Ken Lee
  • #2,609
  • Nov 11, 2010 8:46am Nov 11, 2010 8:46am
Quoting Storeball
Its the power of the noodles bro!

One question though, what is used to describe the difference between the ema noodle and sma noodle?
)))))))))))))) bloody hell man)))))))) I really love it .Well eat noodles only with chicken sup(well that is maybe why I chicken with my trades).I loved spagethy))so sma can be spagethy as they are longer and sma are longer too don't folow that closely price I guess.
  • #2,610
  • Nov 11, 2010 8:49am Nov 11, 2010 8:49am
Quoting Storeball
Could you clarify what you mean? The engulfing/pin of support 6 candles ago on 15min? Thats long of support though...
Sorry I had just woken up, I meant support level.

I took the engulfing candle at 8:45, I'll post a chart pretty soon explaining it as my thoughts are still pretty scattered at the moment.
  • #2,611
  • Nov 11, 2010 8:49am Nov 11, 2010 8:49am
Quoting Storeball
Its the power of the noodles bro!

One question though, what is used to describe the difference between the ema noodle and sma noodle?
As long term thread followers we all know the faster ones are the SMA the EMA are the mid levle MA;'s 5062 on the 15 and hrly and 50 on the 4 hr. I personally don't use the 50 sma though it is in eo's thread . But at one point he mentioned it could be removed to make your charts clearer.
Attached Image (click to enlarge)
Click to Enlarge Name: 7 Chart setup.JPG Size: 230 KB
Good Trading To All ; Ken Lee
  • #2,612
  • Nov 11, 2010 8:50am Nov 11, 2010 8:50am
Quoting Kenneth Lee
If you can put hi and lo zones on your charts that will help with your levels. also your major fib levles . so look for confluence when drawing if you need . It all becomes easier with time. But keep in mind they are a area. Touch trades are not required . Not sure but there are some great long term traders that even zoom down to a 5 min or 1 min for entries. They look for the same patterns but also use them for their stops . So like on the e/j touch just now the 5 minha d a shooting star and you could get 10 or 15 , or amybe hold it stop above...
Lol...and breath!

When you say major fib levels, do you mean from daily and weekly swings?

Also, what do you mean by high and lo zones? High and lo of the session?
  • #2,613
  • Nov 11, 2010 8:54am Nov 11, 2010 8:54am
I would like to say thank you everyone.Thanks for your charts ,quiestions answears.It is help very much.This method is great for me.Yesterday I din't use it and today day a couple hrs and I,ve got more than yesterday.Maybe diff.market and better condition today but definitelly I can read much better my chart today so I will see but these noodles taste great.
Thank you I must go some home made saussages are waiting for me))
  • #2,614
  • Nov 11, 2010 8:56am Nov 11, 2010 8:56am
Quoting Trotty
Regarding the touch entry you've shown off the ppa level, I can honestly say i've never taken one yet. I love the MA's because I know they all look the same on everyone's chart. The lines though, well, i've drawn them myself so I have no confidence that anyone else is seeing what i'm seeing.
One thing that helped me out on this was a post a while back, something to the effect of "let the other traders do the work for you" -- the mass of traders in the world will find the session highs/lows, the daily high/low, the weekly open/high/low, and the monthly open/high/low. These are perfect PPA lines and don't require an ounce of subjectivity. You can bet that other traders are watching these areas because they've either got POs or stops there. So all you have to do is let those poor saps find the areas and then piggyback along for the ride!

EDIT: And as far as the practicality of playing these areas, I'll take them on a touch with a tight stop if there's a lot of confluence in the area. Like if we broke above the Asian session high and then came back down to retest it at the 61.8% fib level, which is usually also a 35/50 MA, then I'm taking the trade on the touch. If there's no confluence then I'm looking for a candlestick. I get a lot of pin entries off session highs and lows from these. They can turn out to be surprisingly big moves.
  • #2,615
  • Nov 11, 2010 9:00am Nov 11, 2010 9:00am
Lol...and breath!

When you say major fib levels, do you mean from daily and weekly swings?

Don't over think it if your looking for daily levels off the daily, if hrly off the hrly so furth.



Also, what do you mean by high and lo zones? High and lo of the session?

I can set any Hi and Lo but the daily are the most used levels and they will be your weekly and monthly and yearly at some point. A high on a 1 min chart will become a high on a decade chart LOL. Not being a ass , But it is the truth . I have daily set on my 15 min and weekly on my 1 hr just as a refrence to major areas. You can switch your chart to daily or weekly and put a line at the wicks to achieve the same goal , just takes a second. Then switch back and your done, One key though is to keep a big enough chart to see those levels. That Tuesday high would be hard to see on a old 15" square monitor

Asian lo's and hi's NORMALLY will be a daily level and their break is always a good entry and a 1 or 5 o'clock trade if we miss the intial entry.

If any of this is not clear ,, speak up .. I can't see you raise your hands..
Good Trading To All ; Ken Lee
  • #2,616
  • Nov 11, 2010 9:03am Nov 11, 2010 9:03am
dang E/J might be a nice trade ,, solid entry for sure .. Nice pin on hrly to add confidence as well. But didn't trust the holiday . Oh well , That is the monkey on my back ..
Good Trading To All ; Ken Lee
  • #2,617
  • Nov 11, 2010 9:03am Nov 11, 2010 9:03am
Quoting ReaperKK
Sorry I had just woken up, I meant support level.

I took the engulfing candle at 8:45, I'll post a chart pretty soon explaining it as my thoughts are still pretty scattered at the moment.
LOL I usually don't even try to post until a while after I've woken up for the same reason.. looking at the screen is hard enough at that point. And the London session, forget about it (I'm in the US, so that's me setting an alarm in the middle of the night and waking up)
  • #2,618
  • Nov 11, 2010 9:04am Nov 11, 2010 9:04am
Quoting dr mongolia
One thing that helped me out on this was a post a while back, something to the effect of "let the other traders do the work for you" -- the mass of traders in the world will find the session highs/lows, the daily high/low, the weekly open/high/low, and the monthly open/high/low. These are perfect PPA lines and don't require an ounce of subjectivity. You can bet that other traders are watching these areas because they've either got POs or stops there. So all you have to do is let those poor saps find the areas and then piggyback along for the ride!...
Yep I agree higher TF higs and lows are like bricks wall.
  • #2,619
  • Nov 11, 2010 9:10am Nov 11, 2010 9:10am
Ken - Doc, cheers fellas. Cleared a few things up there, no more hand raising needed here just a big fat digit
  • #2,620
  • Nov 11, 2010 9:11am Nov 11, 2010 9:11am
Quoting Kenneth Lee
dang E/J might be a nice trade ,, solid entry for sure .. Nice pin on hrly to add confidence as well. But didn't trust the holiday . Oh well , That is the monkey on my back ..
Yep and the same A/U even after close that candel.Hm so that monkey?I will buy some bananas while when I will trading he can jump to bananas and I to trade and hold it till when he finished with bananas.
14 traders viewing now